On October 6, 2023, Viad Corp. (the ?Company?) entered into the Third Amendment (the ?Amendment?), among the Company, Brewster Inc., as a co-borrower, the other loan parties party thereto, the lenders party thereto, the revolver increase lenders party thereto, the L/C issuers party thereto, the swing line lender and Bank of America, N.A., as administrative agent, which amends the Credit Agreement, dated as of July 30, 2021 (as amended, supplemented or otherwise modified from time to time, the ?Credit Agreement?), among the Company, Bank of America, N.A., as administrative agent, the swing line lender and the lenders and L/C issuers party thereto from time to time. The Amendment modifies the Credit Agreement by, among other things, (i) increasing the principal amount of the revolving commitments under the initial revolving credit facility by $70,000,000 (to a total of $170,000,000 principal amount of revolving commitments under the initial revolving credit facility), (ii) adding a $10,000,000 swing line subfacility and (iii) adding Brewster Inc., an Alberta corporation and a wholly-owned subsidiary of the Company, as a co-borrower, and Brewster Travel Canada Inc., an Alberta corporation and a wholly-owned subsidiary of the Company, as a guarantor.

Proceeds from the transaction, along with cash from the Company?s balance sheet were used to prepay $70 million of the outstanding balance on Viad?s existing Term Loan B. The credit spread on the Term Loan B is 5.00% for SOFR borrowings, whereas the credit spreads on the revolving credit facility are based on Viad?s total net leverage ratio and range from 2.50% to 3.50% for SOFR borrowings. Based on Viad?s June 30, 2023 net leverage ratio of 2.91, the credit spread on the revolving credit facility is currently 3.00%.